As Robert Jain, as well as other minds in finance, can attest, some of the most common New Year's resolutions have to do with money. Whether it's a matter of saving money in general, building an emergency account, or what have you, resolutions are varied. What are some of the best that can help you with your finances? Here are just a few, in addition to ways that you can ensure that they're carried out.
According to reputable names in finance, Bob Jain included, it's worthwhile to build toward an emergency savings account. For those that don't know, this is designed to cover a variety of situations, whether it's a medical situation, sudden loss in employment, or any other case where compensation will be needed. It's important to start building this account as early as possible. By doing so, you will have a more sizable nest egg that can be used whenever it's needed.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
You can save money next year by being healthier, too. This may seem more like an overall quality of life move, as opposed to a solely financial one, but it's important to note that the ways we stay in shape don't have to be overly expensive. For example, instead of paying for a gym membership on a monthly basis, consider doing exercises at home. By making this slight adjustment, you'll be able to cut costs in no time.
Lastly, make it a point to improve your credit score in 2019. There are many people that struggle with this, but boosting your score doesn't have to be as difficult as it appears. One of the ways to go about this endeavor is by paying any debts that you have. If a particular debt is outstanding, it's in your best interest to cover this earlier. Every positive change that you make, from a credit standpoint, will be reflected in a higher score.
According to reputable names in finance, Bob Jain included, it's worthwhile to build toward an emergency savings account. For those that don't know, this is designed to cover a variety of situations, whether it's a medical situation, sudden loss in employment, or any other case where compensation will be needed. It's important to start building this account as early as possible. By doing so, you will have a more sizable nest egg that can be used whenever it's needed.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
You can save money next year by being healthier, too. This may seem more like an overall quality of life move, as opposed to a solely financial one, but it's important to note that the ways we stay in shape don't have to be overly expensive. For example, instead of paying for a gym membership on a monthly basis, consider doing exercises at home. By making this slight adjustment, you'll be able to cut costs in no time.
Lastly, make it a point to improve your credit score in 2019. There are many people that struggle with this, but boosting your score doesn't have to be as difficult as it appears. One of the ways to go about this endeavor is by paying any debts that you have. If a particular debt is outstanding, it's in your best interest to cover this earlier. Every positive change that you make, from a credit standpoint, will be reflected in a higher score.
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